About

Mexico’s central bank and monetary authority, Banco de México (Banxico), boasts a wealth of legal talent with expert knowledge of the financial sector within the team. Banxico shares responsibility for exchange rate policy and regulatory supervision of the finance sector with the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público). As a highly significant institution, members of the legal department work on sensitive and confidential matters when supervising the implementation of monetary policy. The team is led by Luis Urritia Corral who has vast experience of handling central banking provisions. Mario Ladislao Tamez López Negrete and litigation specialist Humberto Enrique Ruiz Torres lead the Central Bank Provisions Office and Legal Address sub teams respectively. The legal function has been extremely active in successfully overseeing the latest financial reform of 2014, which has seen more effective property-rights protection for creditors, more formal regulation and the promotion of competition among financial intermediaries. It also closed loopholes which debtors had been using to prolong the debt resolution process. The team also handled all legal matters relating to the issuance of a new 100 peso bill and a 20 peso coin in 2017, which commemorates the centenary of the political constitution of Mexico.